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with this economic reality. you know what? my constituents are going to pay for it in their taxes. what no one seems to want to talk about in the media. yes, congress will pass an emergency bill and exceed the spending cap congress voted on and then your taxes will be the makeup for that because there is no other place to get it from. >> neil: i admire your guts to stand up to the likes of chris christie, who said, quit playing games and pass the aid. you are saying, we are playing game fist we pass this kind of aid. >> chris christie is a great governor. he's right. the emergency aid nides to be there, the money that will go to the local community, which is about $17 bimmion of this $50 billion aid package. so we bailed out the fema relief insurance fund. okay? we know that that has been operating at a deficit. it's still in the red right now. this is going to prolong the agony. if we don't fix the core spending problem, we are not going to have money for another disaster. >> neil: i suspect they won't. they have taken some of the fat out. but i am talking in terms of million, not billions. >> mill
's at the top of the hour, you do not want to miss it. now to taxes and what we're calling many state by state tax revolt. five states are looking to eliminate state income taxes for people and corporations, they are louisiana, kansas, north carolina, oklahoma, and nebraska. if you wouldn't know it, the governor of nebraska, david henman is here and he's going to explain. thanks for joining us this morning. all of a sudden, did these states have the same epiphany or the same realization that there's only way to get the local economies going and that would be to change their taxes? >> well, i would tell you, charles, we have all looked at the economy that we're competing in, which is worldwide, and we know we need to be more tax competitive. i want to create more jobs in this state, our state, for citizens and higher paying jobs and the way to do that is to have lower income tax rates and corporate rates and in our particular case, i'm proposing the complete elimination of the income tax and the corporate tax rate. we do that by repealing some of the sales tax exemptions that we've granted over
taxes as the most important issues facing american small businesses and that's double the response for any other issue. the next two were government and relagz. in other news, walmart will announce a plan to hire every veteran that applies for a job. the only requirement? the vets need to have retired from the military within the last year. >>> the house will begin to debate on a $51 billion plan for superstorm sandy victims. more than 90 amendments will be filed by friday. earlier this month, lawmakers approved $9.7 billion to help pay flood insurance claims from the storm. the senate is expected to pick up whatever legislation the house approves, but things are getting testy at this point. you are talking about over 75 days i believe at some point since the storm actually came through. governor chris christie of new jersey has been making harsh comments about how you will not expect in the past of seeing any of the representatives from this area of the country who were voting down bill toes help aide flood and victims in iowa. he doesn't want to see breaking down into you scratch
until after april 6th. that's when the top income tax rate in the country will drop the 45% from 50. the strategy relates to bonuses that were deferred from 2009, 2010 and 2011. goldman brought forward payments of deferred stock to executives in the united states to 2012 in order to beat tax hikes implemented for top earnses in 2013. we will talk more about bonus season later today with alana einstein. >> it shows you how crazy it is when all of these countries have moving targets for taxes. everybody plays around the corners and tries to evade as much as they can. >> i guess al jazeera gore missed by a day. >> you're saying he should have sold? >> he's trying hard but, anyway, he's worth more than romney now. >> i did hear that. >> how much is he worth? >> like 100 million from selling his left wing green outfits to the -- one of the biggest oil -- i love him. anyway, yeah, i don't want him to blow it all on food and stuff like that. >>> and swatch is buying the luxury jewelry arm of harry winston for $750 million in cash. swatch is the biggest watchmaker by sales and the latest de
loopholes through tax reform, which speaker boehner has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure that we are reducing our health care spending, which is the main driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you gut medicare or medicaid, or, you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how, historically, this has been done. that's not how we're going to do it this time. [ inaudible question ] chuck, what i'm saying to you is that there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybo
should seriously look at with tax reform is how do you replace the anti-poor, anti-small business tax. it is the first big hurdle to create a job. how could you design the equivalent for starting your own business? trying to reach out here and realize, every american could be premiership -- of .ntrepreneurshi passing so many laws and regulations and taxes that they kill the start up businesses in ways that are crazy. >> i have to jump in. thank you so much for talking about entrepreneurship. you were there, you were a part of that. there has been so much destruction to the assistance program. talk about rules and regulations. those are things your administration, when you were the speaker of the house, so many of those types of rules and regulations were built into the program, so much that they have not responded to the recession. it is only able to reach about 30% of the children who are poor in this country. an incredible increase in child poverty been. micro finance would may be a great way to insert into the system. if a woman is receiving cash assistance or food stamps and she h
, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term interest rates. can you tell us how well you think that is working? >> so, to go back just one step, as you said we have brought the short-term interest rate down almost to zero, and for many, many years monetary policy just in bald moving the short-term, basically overnight interest-rate up and down and hoping that the rest of the interest rates would move in sympathy. then we had a situation in 2008 where we are brought the short-term rate down about as far
government, directs tax dollars to specific industries was a discussion in last night's presidential debate, and it's become an important and ongoing theme in the current presidential campaign. the term on which washington assisted the finance and auto industries have also been the focus of intense debate, but probably the most contentious example of all is the one on which diana furchtgott-roth, manhattan institute senior fellow, and our speaker this afternoon, focuses in her time and important new book, "regulating to disaster: how green jobs are damaging america's economy." in it, she subjects the assumption and policies which led to such a faded federal investments as solyndra solar panel manufacture as was that a 123 collector car battery manufacture to a waiting analysis which we of the institute have come to expect from this oxford trained economist who served as chief of staff for the council of economic advisers. sorry. during the administration of president george w. bush. in her book, she helps us understand why the failures of such direct investments in private firms are both s
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
it was put in place. we just raise tax rates on the well-off so we are doing this in pieces off. declaring victory more angry at each other than they were before and making it harder to do the remaining policies is so we know what we have left we know what we have to the health care cost which the truth is we don't know how to fix the system in its entirety. we have to keep looking at ways to control health care cost and the government programs and medicare and we are going to have to go back and do this every couple of years but we have to study what works and put more of the policies that are working in place. we have to deal with our other entitlement. it's a contentious issue in this country. it's always a political tough battle. but the longer we wait to make the changes for the people the difference of the programs there is no question about that and we have to go forward with tax reform which is great when you talk about it broadly we all know the tax code is a disaster and none of us like the tax code. when you talk about the ability to broaden the base, lower the rate and raise re
as if the democrats are the parties of tax and spend, the republicans are the party of borrow and spend. did you see any evidence of the bush administration that there was any entitlement cutbacks? i don't believe most republican politicians have discipline when it comes to spending or they wouldn't have been nearly as profligate, give me a break. this won't be much of a show count. republicans -- come here, come here, the republicans, they don't want to cut spending either. embarrassing the president is one thing, but actually offering plans to cut medicare, social security, defense, oh, please. i'll believe it as i see it, even though i think it's important that it be done. both parties guilty of too much spending. the democrats witt vitriolic, t to make money to pay for it. and enough politics. the american investor figures out we're pretty long through the united states of three-ring circuses. the most important spur for investment is confidence. three issues that held up business formation and stock investing for a long time. put a drag on it. uncertainty of the presidential election, uncertain
the fiscal cliff and the concerns of mayors regarding both investment programs and tax-exempt financing. whenever there's a major issue that demands attention, again and again and again, vice president joe biden has shown the leadership and courage needed to help move our nation in the right direction. and that is why i was certainly hartened when president obama asked vice president biden to lead a special task force to develop responses to the tragedy not only at sandy hook elementary school, but the daily tragedies we see all across america. the nation's mayors and vice president biden have stood together for many, many years in support of public safety. after all, it was then-senator joe biden who championed the crime bill, which established the cops program and included the ban on assault weapons and large-capacity magazines, which congress unfortunately, allowed to expire. yesterday, i was personally very proud to be in the white house as president obama and vice president biden unveiled a strong, comprehensive package of legislative and regulatory reforms needed to response to th
in the united states doesn't have a lot of influence on the economy, but the tax hike on the working men and women, 120 million people, that 2% payroll tax is a killer, and that is all consumption of some. people spend the mone money thet have it, they reach into savings. that was a mistake, it was bad policy. i took growth down in the u.s. by half a point. lori: and you are telling us the economy has all the potential to break out. how much o ahead when will this fiscal policy have? is there any way to recoup it? any offsetting factor? >> unless washington changes its behavior. which is not likely. then the answer is no. we have this gradual recovery. it looks all right over time, has good pieces to it, energy, housing, the banking sector actually may be getting better. lori: must be a mistake on our washington leaders, what if they can achieve a grand bargain, get entitlement reform and we can sustain this debt to gdp level for the time being we can get to underlining measures. >> it would be a glorious outcome. lori: are you optimistic at all it will happen? >> i would like it to happ
on your debt. well we have 2 1/2 trillion dollars coming into the treasury every year in tax revenue. we can use that tax revenue to pay the interest on our debt. therefore, we will not default. all this talk about being a deadbeat nation, that belies the fact that we have never, and will never default on our obligations. the obligation being to pay the interest on the debt. we're not a deadbeat nation and we're not going to default, period. yes. period. martha: comes down to the big question whether or not you will cut spending in order to not default on your debt. and that brings us to a larger question or one of the larger questions, which is whether or not we will be downgraded if we don't become more responsible with our spending? >> interesting you should raise that issue, martha, because 45 minutes ago, fitch, the ratings agency said, if we have another delay in raising this debt ceilingsing, if we have this political standoff again just like we had in 2011, fitch says we may be downgraded. his name is david reilly. he is managing director at fitch and he said if it is just like 2
phone 5 sending shares below. >> did you see your paycheck on friday? the payroll tax hike obviously kicking in for many americans. felt like a pay cut. will this be a temporary shock or a headwind as stocks hover at five-year highs. >> ubs achoirs tnt after a commission throws up road blocks. >>> to the top story. in the pre-market, we've seen apple shares fall below $500 for the first time in 11 months. the tech giant has cut its orders for iphone 5 components because of weaker than expected demands. screen orders for january to march quarter have fallen about half. the company had planned to order. apple said to cut orders for components other than screens. now, jim, we've had sort of this concern about demand for the iphone 5. i think last week when deutsche bank came out with the note from the japanese team, specifically citing this very issue, that's when the concerns really started to mount and the stock really started feeling the impact. >> i think that there's something wrong with the iphone 5. i think that samsung has come on very strong. when you go to a resaler, the sales
give a tax credit to any one who would turn in what lawmakers are calling an assault weapon and also another measure aimed at creating the overall bigger picture of mass violence. >> at the news conference the president accused republicans of trying to collect a ransom in exchange for not crashing the u.s. economy. they are demanding more spending cuts before they agree to raise the nation's debt ceiling. the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really mig
authority is necessary. but there are some others. >> guest: some other examples. let's take corporate tax. it seems likely there will be a year long debate about corporate taxation here in washington in 2013. most businesses are global in some respect. not all but most big businesses for sure. if you're a big business and you look over to champion you'll -- over to china, you'll see promises to have 15% corporate income tax rate. you come the united states, you have no predictable, don't know what it is, and the current rate is much, much higher than that. we need reforms that say to businesses, we want you to invest here in the united states. while we're having this big debate about corporate tax reform, let's include in it specific reforms for the energy sector that in fact are designed to attract a maximum amount of new investment to build a clean energy platform let's have it by a subpart of the corporate tax reform debate. another example? the carbon tax. the carbon tax is a broad-based tax that does not in fact have to have a big impact on consumers. it could be placed on electric u
their fair share of taxes. he's just another elitist hypocrite when it comes to a fair share of security. protection for their children and gun-free zones for our kids. host: that the latest ad by the nra, put out yesterday, getting a lot of feedback about the ad invoking the president's children. the "washington times" has this headline this morning about president obama's event this morning. that is our question for all of you. if president obama acts on his own with executive action, do you support that idea? we're getting your take on that this morning. we will go to sandra in sulphur springs, texas, a republican. caller: how are you? i just have a question to ask the rest of the people listening. what about the fort hood shootings? has anybody thought about how many guns were there? the man walked in, he was a psychologist, he walked in and killed our soldiers at fort hood. . what is the gun ban going to do on that? what does obama think about that? host: what do you think about the president taking some actions on his own? caller: i don't think anybody ought to take our guns away.
, he said he would not extend any of the bush tax cuts for the wealthy and you did. you say you're not going to negotiate this year, why should house republicans take that seriously and think if we did into the 1 minute until midnight scenario that you will not back down? >> first of all, julianna, let's take the example of this year's fiscal cliff. i did not say we would not have any conversations out all about extending the bush tax cuts. i said we would not extend them for the wealthy. we did not. now, you can argue that during the campaign i said i set the criteria for "wealthy" at $250 on dollars and we ended up being a $400,000, but millionaires are paying more taxes, just as i said. from the start, my concern was making sure we had a tax code that was fair and protected the middle class. when biggest priority is making sure that middle-class taxes did not go up. the difference between this year and 2011 is the fact that we have already made $2 trillion in cuts. at the time, i indicated that there were cuts that we could sensibly make that would not damage our economy, wou
, a way they can pay taxes and drive cars and live as human beings. if you want to talk from there to a path to citizenship, i think we can build a consensus around that by the steps would be required. it would be terrible to say we are going to have made them legal and they would never have an opportunity for citizenship. i think that would say something we would not like. the ambassador and i could probably debate the strategy on how to get from here to there but there is no question what is needed immediately is legalization and a path to get to where we would like to be. >> then you talk about the difference between now and 2007? are you more hopeful this time? >> i believe, there have been more people coming out in favor. there are people who have moderated their stance on this from six years ago and i think part of that is an understanding that no action is very bad for the country. i would also like to say, because i believe you have an asian background, the question about the future flow is excellent. this is not just about hispanic immigration, or undocumented immigr
is a tax credit that was part of the economic stimulus originally, he sought $500 and i think ultimately, law was less than that. that was a classic compromise that he did not get. another compromise was his promise to repeal the bush tax cuts for higher income. his goal was couples making more than 200th $50,000 or couples making $200,000 and the fiscal cliff deal did not achieve that. we rented that a compromise. let's go to fort lauderdale,. caller: with respect to not keeping a promise for negotiations with a health kicce -- i think that a somewhat wrong. i have watched the other representatives of congress on tv every day negotiating and debating and putting their facts together. the final decision between nancy pelosi and the head of the sun -- of the senate when they finally came out with exactly what the bill would be -- it was done behind closed doors. the putting together of the bills, people putting in their amendments, was actually done on cspan every day and i watched that. secondly, with respect to these people calling about taking away guns. there is nothing about taking a
as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today. the president is standing back and think i am not negotiating on this and the republicans are all over the map. >> i do not think that this is a big deal. i do not see that as a big issue. what is coming out of this weekend retreat is far more important. connell: i would like to be a fly on the wall for that. >> also what is important is to remember how we got here. he has run trillion dollar deficits for the past four years of his administration. you have to pass a budget in the united states senate. he will be doing his sort of constitution getting a budget up to the congress. this is a challenge. we have to have a clear look at how we can reduce spending in this country. connell: whenever the limit is actually reached and it is not raised. then you start to play the political blame game. pay some bills and not others. though
bathrooms and two weeks from today you will be able to start filing your tax returns. but what happens if the irs doesn't like what you have to say? we have steps to follow coming up next. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. men, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. see yo
not want to do it. he actually does want to negotiate on spending and tax reform. what he does not want to do is have that take place when the republican position on the debt takes the economy hostage. that is off the table. i think the president is smart to be firm and clear on that. next time it would be democrats if we had a republican president. ashley: would you agree, i know it is out of your area, but the senate has not passed a budget in four years now. would you agree with republicans that it is not the way to go and i could, in fact, be breaking the law without i do agree with them. we actually have not passed the budget. i am with them on this concern about our inability to actually do the basic work that a legislature must do. ashley: i know bernanke, timothy geithner, rating agencies and many more states what is the point of a debt ceiling? we routinely raise it anyway. what is the purpose? >> there is no purpose. the debt ceiling has become a device for fiscal irresponsibility. republicans and democrats both dated. senator obama voted against the debt ceiling increase. if
. but there are enormous complexities in the tax accounting and operational challenge. can you say what your thinking is in that area? >> now that i have a voice again with some water, jet lag and a cold, you can't hold me back. money market funds will be one of the primary issues that the commission tackles in the coming months. you know, the process is under way, but quite frankly, we at the commission can and have been proceeding without too much reference to what's going on, and i think there is a new spirit at the commission working with the staff, industry and amongst the commissioners and the consensus that we need to take some action. obviously, there has been a lot of press about potentials involving the float. i have expressed that would be a great avenue to explore, recognizing, as you point out, there are pretty serious tax and accounting issues that have to be addressed and haven't been addressed even though this has been going around the industry for four, five years. on the accounting front, i'm hopeful that as the commission has authority over it, we can figure something out there, if
the republicans stand for, small government, low taxes, growth. there are other conservative voices calling for a broader base, rain in the right and make a direct appeal to women and minorities, retreat on social issues like gay marriage, abortion, legalize marijuana, they want compromise, at reach, inclusion and a smaller voice on contentious issues. personally i think conservatives should change the tone. enter over the election turns people off. name-calling is a loser. smile, persuade. a party of growth and optimism will surely have its place in the sun. all right, we're going to talk more about the direction of the gop in a moment but we have this breaking news. the federal reserve has released a load of documents from several closed-door meetings that it had in 2007 as the financial crisis was just getting rolling. among the in relation being released, the minutes from three emergency sessions that the fed at a time when the economy was i'm going to say, adding. there could be some dramatic exchanges, how often insiders says there had to be embarrassing stuff in there. if there wasn'
more. you do not want to miss lou dobbs coming up with his take of the situation as well. lori: one tax stock or company helping you file your tax returns is hitting a 52-week high. is there more upside the head? melissa: and retirement age racing. they plan to increase the retirement age to 70. a look at metals as we head out to break. gold trading higher by half a percentage point. copper leading the way from a percentage point of view. we will be right back. melissa: as with every 15 minutes, let's check the market. nicole is watching. nicole: i am, indeed. this is a name that has headlines and number one performer in the s&p 500 today. stellar performance, up 9.5%. there is quite a bit going on with cbs. they're turning their north and south american outdoor advertising divisions, putting some billboard divisions up for sale. one analyst says a split could unload asset values between 5,000,000,006,000,000,000. here is a one-year chart that shows you how well they set up for the one-year period the tenure charge shows how we went through the crisis. recouped all those losses and stil
that fiscal cliff deal where dividend taxes just went to 20%. a lot of upset and anticipation that it would go higher but 20% is a great number. >> exactly. >> steven hammer, setting some highs of the day right now. you're bullish at least for the short-term here, how much higher do you go? >> i have no doubt in the next six months. we could potentially see anywhere from a 5% to 10% increase in the u.s. stock market, but we need to be cautiously optimistic, and to us it's all about earnings and it's all about volatility which is why we wait based on risk, and investors need to be cautious to where they invest money and they still need to stick with quality. >> okay. hank smith. what's going to take us to these new highs, do you think? >> well, look, i think we've seen in the beginning of this year finally some money coming out of bond mondayfunds going i equity funds. for five years it's been just the opposite so perhaps we're at the very beginning of what could be a very powerful trend providing a ton of fuel to the equity markets, and we agree. look, dividends are still very attractive, as l
doesn't put tax pay thornse hook for 100% of the cost of projects that are unrelated to hurricane sandy. the amendment waives the standard local cost share for what -- for, quote, ongoing construction projects. this applies to peach renourishment projects which are typically cost shared at a 65% federal, 35% local shear. while the waiving of this local cost share for this type of pradget is uns predent, i understand that for our friends in new jersey, new york, and connecticut, hurricane sandy was also unprecedented. our amendment does not change the language with respect to repairing the beaches damaged by hurricane sandy. but unfortunately, the language could be interpreted to also waive local cost share for future periodic beach replenishment unrelated to any damage caused by hurricane sandy. these typically can take up to over a 50-year period and cans to the tens of millions of dollars. i'm confident that's not what was intended by the amendment as it was offered. but the amendment is necessary to make sure that that's not how it's interpreted at some point in the future. madam cha
cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30s. if you're just joining us, freeze and frost advisories once again, freeze for our inland valley location,, that frost will be with you as you start the day, perhaps even a little bit of black ice. tomorrow morning 27 in santa rosa. upper 20s in concord. 27 in fairfield, freezing in san jose. below fr
trillion debt because we tax too little. it's because we spend too much. >> shannon: that's the debate we heard during the fiscal cliff negotiations and we are going to hear in the weeks and months, as you have outlined. all during the fiscal cliff, all the polling showed that the general public thought this was the fault of the house republicans, primarily the house side and republicans in congress as a whole. have you headed up the republican national committee, you know what it is like to sell a message to the american people. why are the republicans not doing well? they are saying, we are trying to put on the brakes and we are selling out our grandkids. but the public, when polled, blames republicans for this? >> one of the things you learn in politics, sometimes the other side gets the bumper sticker and you get the essay. the democratic-controlled senate has not papassed a budget in 3 years. the house republican vtion passed budgets when they have controlled-- the american people are never told that. why? republicans don't talk about it enough -- >> shannon: why not? >> well, becaus
it for 50 percent less than we do. their taxes are not so high or their taxes go do help them opposed to paying for mindless bureaucracy. >> norway is number one. peter, will you renounce your citizenship or america still the best country to live? >> why would i renounce being an american? i have great hope and faith in our country. my feeling is we are the most innovative society and welcomes everyone including my grandfather, a cigar maker if lower manhattan in 1902. this is the greatest place to be in the world. we will get through it. we may need new leadership to do it but we will get there. >> i will read this from gerri willis saying the primary reason for the slip in the ranking decline in the number of united states citizen would believe hard work will get them ahead. you say what, peter? >>peter: she is right. when a president manages to get himself elected by having half of the population pay no taxes and saying i will give you new benefits, by taxing more of the 1 percent because we have a lot of envy and we are jealous, that will encourage people not to work and it will e
to pay a new tax and there is a tax on those who speculation on industrial properties. seng wun, some people are pointing to what is happening with japan as inciting more capital inflows into places like singapore. do you expect more measures in response? >> i think the policymakers here in singapore, we have seen the hong kong government trying to attempt with limited success to hold on property prices here. we have seen inflows. if you look at the last few weeks, we are very strong close into the equity market and given that this region is still set to be likely to lead growth in the coming over 12 months or so itself, that's likely a gain to bring more money. unless, of course, we see a strong turn around in growth in europe and the u.s., but from the medium term itself, when you've got growth and you've got employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially because after they tighten one time, they quiet down the
taxes up to the level where you fund the promises that we've already made. the entitlements that we've already made and the guarantees we've made, they just want to raise taxes on somebody. i don't know who, to the point where we never actually reform medicare, medicaid or social security. >> the question i want to ask him, is there ever a time that he's making, is it now given where we are in the economy? >> well, the question is, you put in a hundred and you take out 400 in medicare and the government covers 300. >> and it makes no sense. >> well, no, but there are people that think that the government's roll is to provide that 300. and so we should raise taxes to the point where you -- it doesn't matter that you -- >> right. >> it doesn't matter. that is the redistribution. >> that's the agal tearan notion or the equality, the fairness in outcome. >> i'll give it to him. we'll ask the question. >> i just hope you got fired up watching lance. >> i'm fired up watching lance. i'm fired up for that interview. >> i can tell he hurt you. i could tell from when you were over there, you
many workers were surprised to see higher payroll taxes in the first paycheck of the year. it shrank take home earnings bys by 2% or more. a temporary cut in social security and medicare taxes expired as part of the fiscal cliff compromise. >>> and sunny california has turned into shivering california. frost and freezing temperatures are blanketing the state for the fourth night in a row. so far, citrus growers say they protected their crops using water and heaters. no significant crop damage is reported. overnight temperatures in los angeles over the weekend were in the 30s and in the 20s near san francisco. that's why everybody was cold. >> and we were >>> that's why i love the weather. it's always strange. and it is very cold out there right now. in fact, chilly temperatures in the bay area in the 20s and the 30s. we're currently under a freeze warning at this time. nice and clear. that cold air setting overhead freeze warnings up in many of the valleys. temperatures these numbers in the 20s and 30s. by the afternoon, highs only expected to be in the 40
the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30s. if you're just joining us, freeze and frost advisories once again, freeze for our inland valley location,, that frost will be with you as you start the day, perhaps even a little bit of black ice. tomorrow morning 27 in santa rosa. upper 20s in c
mean, you really think we must be doing terrible. we have higher payroll tax, a gridlock in washington, but the actual job growth is very out of sync, and it almost says like, listen, we got rid of this, let's start hiring. we may be looking at this debt ceiling, and i'm going to invoke shakespeare, the bard, that this may be much ado about nothing. i'm going there. right here. >> right now? the cliff is -- >> don't you love -- you know, when i first heard, i thought what a great title, i said no, moran, take the shakespeare course first the it's going to be claymation death match, maybe ufc, you and i watch that in our spare time -- not -- but i don't think it's as important as getting through the fiscal cliff. people are hiring again. >> dow transports continue to hit six-year highs. >> even as crude is up 95. >> it's like a market that has transport leadership. did you see union pacific? we had mike's southern on "mad money" he says point-blank, the hole has bottomed and is starting to go higher. and be good to the shutdowns, the coal plants. don't forget china has been burning coal
run and now they know what their tax situation is of for 2013 based on what happened in washington recently, and the ones work say i have nigh job, interest rates are low. it's not that bad. i want to take my vacation. >> susie: is business strong enough that you're going to add some jobs and what are your hiring plans? >> every time we launch a new ship, it brings on a lot more employees. we're 20,000 strong at this point. and if you think about there are a couple of thousand that come along with each new ship we're building in the future here. >> susie: kevin, thank you so much. great talking with you. >> appreciate it, take care. >> reporter: still ahead, more than half a million people are expected to converge on washington this weekend for the president's inauguration. we'll take a look at the economic impact. >> tom: u.s. stocks were little changed, despite a big jump in growth in china. china's economy rose by nearly 8% during the last three months of 2012, up half a percent from the previous quarter. still, for the year, china's posted its weakest annual performance since t
financing. they are doing a great job. they did not raise taxes. in addition, we have a very business friendly atmosphere. if you come to texas, we will not pull the rug out from under your feet. connell: businesses, sometimes individuals, sometimes larger businesses are leaving state than going to others mostly because of taxes. how much of that juicy and texas in texas and what industries is a really predominate. >> we do not have an income tax. that is a powerful magnet. they do not expect us to go ahead and spend beyond our means. they, in because of the business atmosphere and because we like visitors. a friendly place. the idea of getting to the numbers that you talked about during the first part of the interview and getting through the projections that this particular group put out that this $9 billion gap, specifically, how do you get there sure mark where did the cuts come from? >> i do not know where that number came. there will be a supplemental appropriations bill which we filed in a few weeks. they will fill some of the medicaid that we do not have. it is available in the
, hidden taxes will take a painful bite. inside is the story from that conley who friends the argument more so in the washington d.c. area. local residents will be paying uncle sam more in 2013, between the two percent increase in payroll tax and to lesser known provisions buried in the fiscal cliff deal. there is also the issue of the health care tax, which also may hit some individuals. more details from the washington sunday examiner. the question we are focusing on is whether the president will bypass congress to raise the debt ceiling. we are getting your calls in common. buddy on the republican line. caller: good morning. it would not surprise me that he does raise the debt ceiling. the president alone spent over $1 billion last year just to himself. when does it stop? obviously he has never had a checkbook. i get a bill, i pay it. why do they just keep putting money out, putting money out, not take care of what they're doing doing, not realizing what they're doing? host: they give for the call. this from twitter -- the focus on the 14th amendment, section four, basically says that th
economy and to provide a larger tax base. common sense immigration reform is an important way to address tour changing demographics -- our changing demographics as an aging society. look at me, you'll understand that. we can't harvest our food, care for our sick or sustain our military without immigrants and temporary workers. our current work visa laws contain arbitrary caps that have absolutely no connection to what's happening in the real world. there are very serious limits in scope and difficulty in implementation in these current rules. surely we can do better. in fact, we have to do better if we're going to have the workers we need. what we need is this: a lawful, rational and workable immigration system that secures our borders, provides the workers we need at all skill levels and protects the rights of citizens both undocumented and those legally pursuing citizenship. we believe immigration reform should include the following interrelated components: we must secure our borders and enable people and commerce to flow efficiently and lawfully in and out of our country. we've made s
the election and during this tax battle, it could get even worse, because under a 2010 law, dodd-frank, public companies are supposed to disclose the relationship between what their ceo makes - that's already public information - but they are supposed to compare it and give a ratio with what their median employee, kind of the typical employee, makes. so this is something that people can compare from company to company just to see how much more - "wow, the ceo makes 300 times more than the typical worker here!" > in some companies it wouldn't be that dramatic - an investment bank, for example. but at other companies - you had mentioned earlier wal-mart - it would be a hugely divergent number. > > take goldman sachs. their ceo makes a lot of money, but there are a lot of people at goldman sachs who also make a lot of money. so the disparity wouldn't be as great maybe as wal-mart or some retailer where you have a ceo who probably makes a lot, but you have a lot of minimum-wage workers. so that is going to be a big disparity. > also in corporate governance, we are going to know a little bit more a
. people forget reagan was able to get tax reform, bill clinton was able to get a balanced budget. certainly a big opportunity for the president but fully aware in the white house, a lot of challenges ahead as well, jenna. >> certainly not challenges for a father. nice to see the first family, ed, and how much the girls have grown up over the last four years. what we're looking at for the president tomorrow besides the hair styles and what everybody is wearing at the inauguration is what is he going to say? what will be the address to the nation tomorrow? you mentioned some policy challenges ahead. what are you hearing about tomorrow's address and how that might set the table, if you will, for the years to come? >> true. what i'm hearing is the state of the union address next month is really where the president will go with a deeper dive on policy, whether it be gun control, immigration reform, the debt ceiling debate. tomorrow's broad scene. his senior advisor will talk about bringing the country together. republicans are saying the early signals they've seen from the president a
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